On Wednesday evening, the amendment to the government decree on extra-profit taxes was published in the Magyar Közlöny, which reveals that from December 8, i.e. tomorrow, the tax rate on the margin between Brent oil and crude oil from Russia will increase from 40 percent to 95 percent.
According to the law, the government orders the following in order to withdraw the extra profit generated from sanctioned gasoline prices and direct it to the overhead protection fund: "Regulation 197/2022 on extra profit taxes. (VI. 4.) Government Decree (hereinafter: Government Decree) Article 8 is supplemented with the following paragraphs (6)–(8): "(6) District heat. contrary to Section 7 (1) of the Act, the income tax for the 2023 tax year is 41 percent of the positive tax base. (7) The District Heat. contrary to § 8 of the Act, the rate according to paragraph (6) must be applied when paying tax advances for the 2023 tax year. (8) The District Heat. Contrary to Section 6 (11) of the Act, the tax base for taxpayers with multiple licenses or activities other than those subject to income tax is Távhő. the proportional part of the amount determined on the basis of paragraphs (1)–(9) of Section 6 of the Act. The rate must be determined as a percentage (to two decimal places) of the total sales revenue of the taxable person of the sales revenue of the taxable activities shown in the report or determined on the basis of the bookkeeping lock."
The tax rate on the margin between Brent oil and crude oil from Russia will rise from 40 percent to 95 percent.
Source: mandiner.hu
Featured image: Martin Divisek/Bloomberg via Getty Images
